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ICBC to Issue the Second CDB OTC Bonds on March 8
 

ICBC is to issue the second OTC bonds of China Development Bank (“CDB”) of 2017 on March 8-10 to personal and non-financial institutional customers. The fourth CDB Financial Bonds in 2017 are one-year fixed-rate bonds with a code of 170204 and a coupon rate of 3.20%. Customers can subscribe via ICBC’s 24-hour e-banking channels and outlets.

According to an official with ICBC, the OTC CDB bond is a typical fixed-income product featuring high credit rating and security and low trading threshold. The trading threshold and minimum incremental unit of a single transaction are both RMB 100 (face value). Customer may hold OTC CDB bonds to maturity to obtain stable interest income, or trade them at any time during business hours via e-banking channels or outlets, which will be settled on a real-time basis and meet customers' requirements for liquidity. Also, customers may receive proceeds from the difference between buying and selling prices of the bonds by taking advantage of price fluctuations in the market.

Since OTC CDB bonds were first issued via outlets of commercial banks in May 2014, ICBC has regularly issued 18 OTC CDB Bonds, which meets investment needs of the public for safe and transparent bond products with moderate returns. The regular issuance of OTC CDB bonds reflects the increasingly important role of commercial banks in distribution in the OTC bond market, which helps widen financing channels of issuers and build a multi-layered bond market system.


(2017-03-17)
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